Allworth Financial LP boosted its stake in The Hershey Company (NYSE:HSY – Free Report) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,101 shares of the company’s stock after buying an additional 83 shares during the quarter. Allworth Financial LP’s holdings in Hershey were worth $525,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the stock. Great Diamond Partners LLC boosted its stake in Hershey by 0.7% in the 1st quarter. Great Diamond Partners LLC now owns 5,624 shares of the company’s stock valued at $1,431,000 after buying an additional 37 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in Hershey by 7.3% in the first quarter. Brown Brothers Harriman & Co. now owns 543 shares of the company’s stock worth $138,000 after purchasing an additional 37 shares in the last quarter. Brighton Jones LLC boosted its stake in Hershey by 1.2% in the first quarter. Brighton Jones LLC now owns 3,296 shares of the company’s stock worth $839,000 after purchasing an additional 38 shares in the last quarter. Caprock Group LLC boosted its stake in Hershey by 2.8% in the first quarter. Caprock Group LLC now owns 1,423 shares of the company’s stock worth $362,000 after purchasing an additional 39 shares in the last quarter. Finally, V Wealth Advisors LLC boosted its stake in Hershey by 3.6% in the first quarter. V Wealth Advisors LLC now owns 1,151 shares of the company’s stock worth $293,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 56.47% of the company’s stock.
Insiders Place Their Bets
In other news, Director Pamela M. Arway sold 187 shares of the business’s stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $241.66, for a total value of $45,190.42. Following the completion of the transaction, the director now directly owns 15,529 shares in the company, valued at approximately $3,752,738.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Steven E. Voskuil sold 1,500 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $207.00, for a total transaction of $310,500.00. Following the completion of the transaction, the chief financial officer now owns 35,816 shares of the company’s stock, valued at approximately $7,413,912. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Pamela M. Arway sold 187 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $241.66, for a total value of $45,190.42. Following the completion of the sale, the director now directly owns 15,529 shares in the company, valued at $3,752,738.14. The disclosure for this sale can be found here. Insiders have sold 17,438 shares of company stock worth $4,079,372 over the last ninety days. Corporate insiders own 0.22% of the company’s stock.
Hershey Price Performance
Hershey (NYSE:HSY – Get Free Report) last announced its earnings results on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.12. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.50 billion. Hershey had a return on equity of 55.74% and a net margin of 16.49%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 earnings per share. Equities research analysts predict that The Hershey Company will post 9.54 earnings per share for the current year.
Hershey Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 18th were given a dividend of $1.192 per share. This is a boost from Hershey’s previous quarterly dividend of $1.04. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $4.77 annualized dividend and a yield of 2.38%. Hershey’s dividend payout ratio is currently 54.89%.
Analyst Ratings Changes
A number of equities analysts have commented on the company. BNP Paribas raised Hershey from a “neutral” rating to an “outperform” rating and set a $268.00 price objective on the stock in a research note on Wednesday, July 19th. Argus dropped their target price on Hershey from $315.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Mizuho dropped their target price on Hershey from $263.00 to $233.00 in a research report on Monday, July 31st. Morgan Stanley dropped their target price on Hershey from $270.00 to $245.00 in a research report on Friday, July 28th. Finally, Piper Sandler dropped their target price on Hershey from $285.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, September 22nd. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $262.10.
Check Out Our Latest Analysis on HSY
Hershey Company Profile
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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